The Upper Tribunal has handed down its decision in The King (on the application of) Refinitiv Ltd (and others) v HMRC [2023] UKUT 257 (TCC).
The taxpayer companies sought judicial review of diverted profits tax notices (c£167m), arguing that HMRC was not entitled to issue the notices because they breached the terms of an advance pricing agreement (“APA”).
The Upper Tribunal dismissed the claim. It accepted HMRC’s submissions that it had not acted inconsistently with the APA.
Jonathan Bremner KC appeared for HMRC. Julian Ghosh KC appeared for the taxpayers.
A copy of the Decision can be found below.
View Judgment